Gold Heads to a losing Month Amidst Hawkish Fed Repricing & Ahead of US NFPs
XAU/USD started May with new record highs, but was forced into a correction due to the change in expectations around the Fed rate path, which boosted the US Dollar
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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XAU/USD started May with new record highs, but was forced into a correction due to the change in expectations around the Fed rate path, which boosted the US Dollar
The pair finds support at the start of the week, despite Friday’s hot US PCE inflation, hawkish Fed repricing and debt ceiling agreement that still need Congress approval
The chip designer’s stock surged on Thursday, after the quarterly results showed strong demand for its Artificial Intelligence-related products, lifting the tech sector, despite debt ceiling uncertainty and hawkish repricing around the Fed
Watch today’s US Open for insights on the latest around the US debt ceiling and Fed-speak, the dovish shock by the Reserve Bank of New Zealand, the UK inflation data that keeps pressure for more rate hikes, NVIDIA’s AI-driven strong quarterly report and more
The chip designer reported somewhat mixed quarterly results on Wednesday, but the data center business generated record revenues on AI demand, which also drove strong forward guidance and sent the stock higher in pre-market
Headline Inflation decelerated sharply in April as Wednesday’s data showed, but remains elevated and the core surged, keeping pressure on the Bank of England for more monetary tightening and harming the UK index
The pair slumped to new 2023 lows after RBNZ raised rates to what it believes to be the terminal level, just as expectations around the US Fed become more hawkish
The Energy Minister of Saudi Arabia cautioned speculators on Wednesday that they could be in for some pain, in a warning that helped lift USOil
The central bank of New Zealand increased rates to 5.5% today as anticipated, but expects this to have marked the peak, in a dovish shift against market expectations for more tightening ahead
Headline CPI inflation decelerated to 8.7% y/y in the first sub-10% print since August, as today’s data showed, but Core inflation rose to the highest in thirty one years
Watch today’s US Open for insights on the developments around the US debt ceiling as we move closer to the estimated deadline, the latest Fed commentary and more
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